Nokia Planning Major Executive Shakeup

Nokia CEO Stephen Elop is planning a major executive shakeup to make way for a new company strategy, reports have revealed.

According to the German weekly WirthschaftsWoche, Nokia will soon undergo a massive top level executive shake-up that could see almost half of the nine board executives being replaced or forced to leave the company altogether.

The newspaper said that executive vice president of marketing Niklas Savander, chief development officer Kai Öistämö, services chief Tero Ojanperä, and executive vice president of mobile phones Mary McDowell are all expected to be in the firing line.

The new management structure will be presented to the executives on Thursday, the paper said.

Nick McQuire, an IDC researcher director, said in a statement to V3: “Elop clearly needs to do something bold in terms of a strategy shift for Nokia, and he will therefore need his internal stamp on proceedings to execute.”

Elop suggested that the restructuring is necessary to make sure that the company maintains its dominant market position and out-grow competition.